Boparan Holdings made some positive noises about its third-quarter and said that it plans to invest in its protein and chilled units. Ukrproduct suggested that it has recovered some sales volumes despite economic and political instability in Ukraine. Here are this week's results in brief.
Boparan Holdings sees "encouraging" Q3
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Boparan Holdings, the owner of 2 Sisters Food Group, said that its third quarter was "encouraging" as it booked higher like-for-like sales in spite of price deflation headwinds.
The company said comparable sales were up 1.1% to GBP798.7m. Total sales, excluding divestitures and currency exchange, dipped 3.9% in the period.
"This is an encouraging performance and in line with expectations. It underlines our commitment to focus on building a better business which leads the food sector and is passionate about putting customers and consumers first," CEO Ranjit Singh said. He revealed that investment plans for its protein and chilled divisions are being finalised.
Total operating profit slipped 2.5% to GBP18.9m but on a like-for-like basis the performance was flat. Net earnings jumped by GBP31m to GBP16.3m as the company lapped financial expenses in the year-ago period.
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By GlobalDataUkrproduct weathers turbulent 2014
Ukrainian dairy group Ukrproduct was able to report an increase in 2014 earnings despite challenges presented by an "unstable economic and political environment".
The company said it saw a 43% year-on-year increase in EBITDA and a more than doubled operating profit for the full year 2014. It was able to report this financial performance despite an increase in raw milk costs and pressure on sales.
"The ban on export of dairy products to Russia led to an oversupply of hard cheese in the domestic market whilst at the same time resulted in lower raw milk prices due to increased availability in the summer period. However, on an annual basis average raw milk prices in 2014 increased by approximately 8% y-o-y that coupled with the increased cost of imported raw materials and higher energy costs placed further pressure on unit costs," Ukrproduct noted.
Looking to 2015, Ukrproduct said that it has adapted its regional focus to reflect ongoing fighting in the Crimea. "Ukrproduct has been looking to recover sales volumes by adjusting its regional focus… These initiatives resulted in positive sales trends for the last quarter of the financial year and have continued subsequently."
Vitasoy sees jump in FY sales, profit
A focus on innovation, effective developments strategies and continued expansion has seen Vitasoy post a jump in EBITDA and sales for the full year.
For the year ended 31 March, sales increased 12% to HK$5.1bn (US$657.9m) and EBITDA rose 11% to HK$725m.
Vitasoy chairman, Luo Youli, said consumer demand for nutritional products continues to grow. "Vitasoy's unique competitive advantage will help us accelerate growth and gradually we will introduce more [products] in line with consumer tastes."
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